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Posts Tagged ‘tax planning’

End of Assignment Evaluations For Effective Management

In our experience based market, are you asking your business customers for immediate feedback?  Are you giving your vendors feed back too?  Just as importantly, are you giving your employees evaluations of their participation in group and individual assignments as soon as the assignments are completed?  Annual evaluations occur long after the undesirable behavior has…

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Tuesday Tax Tip: 2019 Tax Filing Changes to Know

There is still time to get more out of your  deductions and contributions before the end of the  2019 tax year.  Parts of the 2017 reform did not take effect until this year, and, as most years, the contribution caps changed for 2019.  Here is what you should know about 2019 tax filing changes. The…

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New Tax Estimator Tool for Freelancers

Today, with so many millennials freelancing on the side while working a salaried job, the IRS wanted to reduce the risk of sticker shock when taxes are due on the W-2 income as well as the additional self-employment income.  To solve this challenge, the Internal Revenue Service issued the new Tax Withholding Estimator tool.  To…

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Tuesday Tax Tip: 3rd Quarter Estimated Tax Due Soon

Third Quarter Estimated tax payment due Monday Sept 16. Can you believe major tax reform is in its second year?  As taxpayers are seeing its full effect on 2018 returns, the IRS reminds people who pay estimated tax that their third quarter payment for 2019 is due Monday September 16.  Thanks, IRS. On a brighter…

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Home Schooling Tax Reminder

Home Schooling?  In 2018 the IRS EO(Exempt Organization) implemented revisions to the form 1023EZ.  Now the IRS EO will Ask for a short description of your activities when applying for 501(c)(3) status Ask more questions about: Your gross receipts (your sources of income) Your assets (what you own) What kind of foundation are you?  If…

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Tuesday Tax Tip

As Dorian approaches, IRS reminds preparation for natural disaster Secure key documents and make copies think tax returns, birth certificates, deeds, titles and insurance policies.  Put in waterproof containers in a secure space.  Duplicates should be kept with a trusted person outside the disaster area.  A backup scan on flash drive is another way to…

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Tuesday Tax Tip: Sales Taxes Are Due -Even on Internet Purchases

Last year, a 1992 sales tax regulation was overturned, allowing states to decide whether they wanted to collect sales taxes from online purchases.  The 2018 ruling caused e-commerce company share prices to temporarily tumble.  Most online retailers, such as Amazon, have already been paying state sales taxes for years, but other online vendors, even large…

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